William O’Neil’s Big Picture analysis continues to indicate a “confirmed uptrend”, while medium and long term uptrends remain intact over at Tony’s Objective Elliott Wave analysis.

The small pullback is underway. We wait to see if the NYSE can retake its 50-day moving average, or if the other indexes follow the NYSE lower. Thanks to Tony, we have some key S&P500 price levels to watch:

1,905 – If we fall to 1,905, the probability of a correction is high

2,011 – If we rise above 2,011, the probability of a continued uptrend is high